Well-known builder arrested for duping investors of crores with false housing promises in Bhubaneswar

Infocity police on Saturday nabbed Ranjan Kumar Nanda, a popular Bhubaneswar-based builder accused of cheating hundreds of people by luring them with promises of housing projects. Nanda, the owner of Oditek Properties Pvt. Ltd., was taken into custody on the basis of Non Baliable Warrant (NBW) from the Bhubaneswar Golf Club while he was present there.

Police officials said the arrest was carried out on the basis of a Non-Bailable Warrant issued against him in connection with multiple cases of alleged financial fraud.

According to complaints, Nanda allegedly duped a large number of people by collecting money in the name of providing residential houses. The complainants have accused him of siphoning off crores of rupees without delivering the promised properties.

Several victims had reportedly invested their life savings, believing the assurances made by the builder regarding housing projects in and around the capital city.

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Police Action and Investigation

Acting on the warrant, the Infocity police traced Nanda’s location and arrested him from the Bhubaneswar Golf Club. He was later brought to the police station for further interrogation.

Officials stated that the investigation is ongoing and that more details are likely to emerge as police question the accused and examine financial records related to the alleged fraud.

 Police officials have assured that strict legal action will be taken based on the outcome of the investigation.